Monday broker round-up - UPDATE
21st Nov 2011 08:23
RBS: Banco Espirito Santo lowers to neutral, cuts target to 22p from 51p. Centrica: Investec puts target price under review, buy rating unchanged. Capita: Credit Suisse cuts target from 780p to 770p, outperform rating kept. Capital Shopping Centres: Seymour Pierce maintains reduce stance and 324
Read moreTullet Prebon sees revenues slow in October
18th Nov 2011 08:50
Tullett Prebon, the interdealer broker, says revenue in the four months from July to October was 8% higher than reported for the same period of 2010. When currency effects and other adjustments are made revenues were up 9%. For the year so far, Tullet says its £769m income is 2% higher than 2010 on
Read moreLondon midday: Stocks fall back after flat start
2nd Aug 2011 12:16
Stocks are in negative territory now as investors digest a raft of company statements against a backdrop of ongoing worries about the debt situation in the US and in Europe. Investors are also digesting news that the US House of Representatives has voted through a bill to raise the debt ceiling in
Read moreProfits and revenues down at Tullet Prebon
2nd Aug 2011 08:14
Revenues and profits fell in the first half of the year at interdealer broker Tullet Prebon. Adjusted profit before tax for the first half of 2011 fell to £73.1m, compared with £78.6m the year before. Revenues fell to £454.8m, down 4% from £475.8m in 2010. European revenues declined 6%, while Nor
Read moreLondon pre-open: Footsie spinning its wheels
2nd Aug 2011 07:36
Stocks are set for an indecisive start, with bears pointing to weaker than expected US manufacturing data and bulls focussing on the successful passage through the US House of Representatives of the budget deficit reduction bill last night. City traders expect the FTSE 100 will open a couple of poi
Read moreBrazilian President waves through Tullett acquisition
12th Jul 2011 13:44
Inter-dealer broker Tullett Prebon has been given the go-ahead to buy Convençao S/A Corretora de Valores e Câmbio, a leading inter-dealer brokerage in Brazil. Approval from the Brazilian President brings to an end a nine-month journey over regulatory hurdles. The company expects the acquisition t
Read moreFTSE 250 movers: Stobart leads the fallers
13th May 2011 15:51
The worst performing stock on the FTSE 250 is distribution group Stobart, which issued a strongly-worded statement denying a "speculative" story in the Daily Telegraph that alleges that the Financial Services Authority (FSA) is examining a deal that will see Stobart buy a property portfolio from its
Read moreBroker tips: Cookson, Spectris, Tullett Prebon
13th May 2011 11:55
Thursday's trading update from industrial materials company Cookson was broadly in-line with expectations, according to UBS, who raises its target price but keeps its negative stance, expecting weaker trends from here on in. The target price now stands at 600p, from 550p previously, however the bro
Read moreBroker snap: Numbers adjusted at Tullett Prebon after slow April
13th May 2011 10:58
Nomura is adjusting its numbers for derivatives broker Tullett Prebon after the group highlighted a sluggish April performance in its interim management statement on Thursday. While the level of activity in the markets during the first quarter was a very similar level to last year, activity slowed
Read moreFriday tips round-up: RSA, Clinton, African Barrick
13th May 2011 06:34
Britain's biggest commercial insurer RSA has tended to show a fleetness of foot when managing risk, stepping back from business lines and markets when the premium rates, and thus profits, look unattractive. The shares, which yield 6.6 per cent, trade on a relatively low P/E multiple of 9.9 times, co
Read moreFTSE 250 movers: Supergroup, Keller plummet
12th May 2011 14:56
Two companies, SuperGroup and Keller, took a tumble on Thursday, both falling over 20% lower. Fast-growing fashion group SuperGroup failed to get its summer range out in time for the unseasonably warm weather seen recently, resulting in a lower sales growth rate in the three months to 1 May. Grou
Read moreRevenues slip at Tullett Prebon
12th May 2011 14:13
Derivatives broker Tullett Prebon said that revenues fell 3% to £304m in the first four months of the year as the "world's financial markets remain unsettled." While the level of activity in the markets during the first quarter was a very similar level to last year, activity slowed somewhat during
Read moreMonday newspaper round-up: Japan, Bahrain, Tullett Prebon...
14th Mar 2011 06:33
An explosion rocked Japan's earthquake-damaged Fukushima Daiichi nuclear plant on Monday, escalating the emergency at the 40-year-old facility north of Tokyo. The blast, captured by television cameras, appeared to have occurred at the plant's No. 3 reactor building, where combustible hydrogen had b
Read moreWednesday tips round-up: Antofagasta, Weir, Inchcape...
9th Mar 2011 06:48
Copper miner Antofagasta already trades at "considerably higher multiples than those of Kazakhmys or indeed the major diversified miners", according to brokers. Given that, it is not a buy but the company's strengths and the confidence evidenced by the special dividend means this is not a sell say
Read moreLondon close: FTSE 100 rallies to flat finish
8th Mar 2011 16:53
The FTSE 100 rallied strongly to close flat after a volatile. Traders were unsure how to react to continuing violence in Libya and indications from Opec that the cartel will lift oil production. The oil price eased, but so did metals, which dealt a blow to the mining sector, particularly precious m
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